Drilling underway at DeSoto’s Fenton project where a gold discovery is hiding in plain sight
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DeSoto Resources has commenced drilling at its Fenton gold project in the Pine Creek Region of the Northern Territory, which is host to a historic 20m at 1.74g/t discovery made by Homestake Gold (now Barrick Gold) in the mid-1990s.
An initial 3,000m of RC/DD drilling has been planned across targets in the central discovery zone of the Fenton Shear Zone (FSZ), with the first phase comprising two deep +500m RC/DD holes targeting the gold bearing intervals of the FSZ.
Notably, the FSZ represents a structurally complex gold target that extends for over 55km and is comparable in scale to the nearby 17Moz gold Pine Creek Shear Zone.
“The company is excited to be drilling the Fenton Project, which last saw drilling in the mid-1990’s,” DeSoto Resources (ASX:DES) MD Chris Swallow said.
“Our exploration team has been working hard to finalise geophysical and geological programs, refine the targets and plan the program.
“The Fenton Gold Project reflects a gold discovery that has been hiding in plain sight with no systematic follow-up.”
In the mid-1990’s, Homestake undertook a global search for deposits like the +40Moz Lead gold deposit in South Dakota, leading them to Fenton due to its resemblance to the host rocks and structure found at Lead.
Subsequent drilling returned hits like 55m at 0.89g/t gold from 418m including 20m at 1.74 g/t gold from 423m (FEND18) and 17m at 0.71g/t gold from 610m (FEND14).
For over a century the Pine Creek Orogen (PCO) has produced gold, beginning in the 1870s through to the early 1900s, with about 2.3 tonne of gold extracted.
The nearby Pine Creek Shear Zone contains ~17Moz of recorded gold deposits hosted in a 60km-long and 1km-wide, NW-SE trending belt along the Pine Creek Shear Zone (PCSZ), the dominant gold hosting structure in the region.
DeSoto says Fenton is comparable in scale to the Pine Creek Shear Zone. It has undertaken Induced polarization (IP) and ground Electromagnetic (EM) surveys which have helped identify conductivity anomalies along a gold anomalous segment of the FSZ – for a strike length of 4km.
The first assays are expected within a month of drill hole completion, with the focus on the highest priority drill targets initially.
“Fenton has exposure to 55km of a regional scale shear zone with historic wide gold intersections,” Swallow said.
“The opportunity to drill into our highest priority targets in the system is all ahead for the company in the coming weeks.”
This article was developed in collaboration with DeSoto Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.